Introduction

Abstract

This book is about the workings of market economies in the information age. Knowledge-based activities, assisted by rapidly evolving information technology, have become the mainspring of economic growth. Their impact on production processes, consumer behavior, and socioeconomic structures has begun to attract the attention of economists and policymakers alike. They are now seen by the latter as possible outlets for factors displaced from sunset industries. Supply-side economics and deregulation have unleashed tremendous creative potential in many production fields previously neglected as alternative sources of wealth and welfare.